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A RHOMOLO assessment of 2014-2027 cohesion policy

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Abstract

The European cohesion policy aims to achieve balanced and sustainable development by reducing disparities between the European Union (EU) regions. The macroeconomic impact of the policy materialises through both short-term (mostly demand-side) and long-term (supply-side) effects. General equilibrium models such as RHOMOLO can be used to assess these effects. The budget allocated to cohesion policy for the period 2014-2020 is €356 billion (€405 billion with REACT-EU) and €376 billion for the period 2021-2027. This Insight summarises the results of an analysis that takes into account the funds allocated in two consecutive programming periods, as financial support is never interrupted between them. By 2030, each euro invested in the 2014-2020 and 2021-2027 programmes will have generated 1.3 euros of additional GDP in the EU, and will have almost tripled in 2043. Cohesion policy promotes internal convergence and reduces regional disparities not only at the EU level, but also within Member States.

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  • Tryfonas Christou & Abian Garcia Rodriguez & Tillmann Heidelk & Nicholas Lazarou & Philippe Monfort & Simone Salotti, 2024. "A RHOMOLO assessment of 2014-2027 cohesion policy," JRC Research Reports JRC136790, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc136790
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    Keywords

    rhomolo; region; growth; cohesion policy;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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